Several individual microentrepreneurs (MEIs) had their businesses closed – or very shortly before that – during the pandemic. Thus, many states were in the red again and in a state of alert with unemployment. But now, with the economy recovering, it is possible for micro-entrepreneurs to take loans from financial institutions to reopen their business or improve it.
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Check out some frequently asked questions about loans for MEI below:
Is there a limit amount to apply for the loan?
He has! The maximum amount that the MEI can take out on the loan is R$ 20,000. It is not possible to ask for more than that in this modality.
What can the loan money be used for?
The institution that the micro-entrepreneur chooses to apply for the loan will make an assessment for the use of the money, such as, for example, payment of debts or commercial investment.
In which institutions can I apply for this loan?
Some of the institutions that offer this type of loan are Banco do Brasil, Caixa Econômica Federal, Bradesco, Itaú and Santander. However, the best bank for this type of credit is BNDES.
Does the bank have to approve the loan?
Yes, however the values may vary depending on the customer's cases. A bank analysis will be carried out and, thus, the loan will be approved.
What is the interest rate on the loan?
The interest rate will not be higher than 4% and neither will the administrative fee, which will be 3% of the loan amount.
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